> For the complete documentation index, see [llms.txt](https://docs.creditcoin.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.creditcoin.org/what-is-creditcoin.md).
# What is Creditcoin
The latest version of the Creditcoin network transforms the RWA protocol into an EVM-compatible layer 1 blockchain. Creditcoin was recently extended with a new ground breaking innovation: Universal Smart Contracts. Universal Smart Contracts on Creditcoin are able to coordinate, interact with, and update smart contracts across multiple blockchains, enabling the development of native multichain applications.
With the release of Creditcoin’s EVM-compatibility, it is important to distinguish it from earlier versions of the protocol. The previous Substrate version of the Creditcoin network (2.0+ and earlier) is now referred to as CC Enterprise. The EVM-compatible version of Creditcoin is simply referred to as Creditcoin.
Creditcoin was developed in two phases:
* **EVM-Compatibility (Phase 1)**: The first goal was to transform Creditcoin into a fully EVM-compatible layer 1 blockchain. This enables anyone to program new smart contracts for Creditcoin using the same programming language and techniques used by Ethereum and other EVM-compatible blockchains. By leveraging these existing EVM network effects, Creditcoin benefits from lower dApp development costs and lead times. In summary, as an EVM-compatible protocol, Creditcoin will allow developers to build a wide range of related applications, protocols, and more, directly on the Creditcoin blockchain, in addition to all existing credit capabilities.
* **Universal Smart Contracts (Phase 2 - Currently Released on Mainnet)**: Phase 2 involves the release of Universal Smart Contracts. With USC, Creditcoin developers can natively access information and events on other L1 blockchains, such as Bitcoin and Ethereum. By providing native access to multi-blockchain event data through a standardized interface, Creditcoin allows developers to coordinate smart contracts across multiple chains. In summary, USC makes it safer and simpler to deploy novel multi-chain applications. With this release Creditcoin can become the Universal Smart Contract Layer of Web3.
Explore the visual overview of Creditcoin:
**Read more about Creditcoin’s main components:**
* [Nominated Proof-of-Stake Consensus](/nominator-guides/nominating-without-staking-pools.md)
* [Wallets](/wallets.md)
* [Creditcoin CLI tool](/wallets/how-to-connect-your-wallet-to-creditcoin/command-line-interface/creditcoin-cli.md)
* [Nominator Guides](/nominator-guides.md)
* [Validator Guides](/validator-guides.md)
* [EVM-compatibility](/evm-compatibility.md)
* [Smart Contracts](/smart-contract-guides.md)
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